Disney to Buy Club Penguin — Seeking to bolster its online presence among kids, Walt Disney Co. said it is buying the popular Club Penguin virtual community for $350 million in cash. — Disney said it had agreed to pay up to another $350 million to Club Penguin's founders …

Bubble 2.0 Coming Soon — Every single person working in the media today who experienced the dot-com bubble in 1999 to 2000 believes that we are going through the exact same process and can expect the exact same results—a bust. It's déjà vu all over again.

Console mod-chippers busted in nationwide raids — Federal agents have carried out a series of raids against individuals and businesses in 16 states as part of an investigation into the distribution and sale of mod chips. Dubbed "Operation Tangled Web", the 32 search warrants were executed …

GoFish Abandons Bolt Purchase, Licensing Issues Blamed — Video-sharing destination GoFish is now abandoning its purchase of Bolt, according to sources to Digital Music News. The acquisition, first reported in February, involved a stock-for-stock transaction valued at $30 million.

Why we must close the net — Web rant ... Sir Elton says the internet is destroying music — POP legend Sir Elton John wants the internet CLOSED DOWN. — Never one to keep his opinions to himself, the Rocket Man has waded into cyberspace with all guns blazing.

SecureWorks Offers Free Security Tools — Researchers from SecureWorks have created two new tools to address security issues. They will be presenting the tools at the Black Hat convention, which runs July 28-Aug. 2 in Las Vegas. — The first tool, known as CaffeineMonkey …

How long will it take at rush hour? — Let's say you want to leave from Berkeley to catch the sunset from the beach at Half Moon Bay, to relax on the sand and watch the sun sink into the Pacific. We all know Google Maps will tell you how to get there. Now it's better at helping you decide when to leave to catch your sunset on time.

Have Skype SMS your Voicemail text: By Late 2007 — Thanks to a deal between Skype and SpinVox, Skype customers can [now] soon get their voicemail messages converted to text and sent to their mobile phones via SMS. The service launches soon [today], and will be available in English, Spanish, French and German.

House panel approves legal shield for bloggers — WASHINGTON—A congressional panel on Wednesday voted, against the Bush administration's wishes, to shield journalists including advertising-supported bloggers from having to reveal their confidential sources in many situations.

Motorola rolls out six budget handsets — Six new unannounced handsets have shown up on Motorola's image gallery, and they all appear to be budget candybar devices. Not too much information on these phones aside from model numbers (Motorola W206, W213, W156, W160, W175 and W18), and we don't even know where they'll be headed.

Remember Webvan? So Does Amazon — Check out Amazon Fresh - a new invite only service from Amazon that looks eerily similar to the quintessential 90's Internet flameout, Webvan. — The new service promises speedy at-home delivery of groceries, including fresh produce, at "competitive everyday prices."